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Household Savings
Mr. St. Aubyn: To ask the Chancellor of the Exchequer what is his most recent estimate of household savings (a) as a percentage of gross domestic product and (b) in nominal cash terms; and what were the comparable figures for each year since May 1997. [110091]
Mr. Timms [holding answer 14 February 2000]: The information requested falls within the responsibility of the Director of the Office for National Statistics. I have asked him to reply.
Letter from Tim Holt to Nick St. Aubyn, dated 16 February 2000:
(8) Household saving includes saving of non-profit institutions serving households. Separate data for the household sector are not available.
As Director of the Office for National Statistics (ONS), I have been asked to reply to your recent question on household savings.
The figures you requested are tabulated below. The latest year available is the twelve month period to September 1999. National accounts are prepared quarterly and the closest period to May 1997 for which there are data is the period April 1997 to March 1998.
Estimates for household saving and GDP are published quarterly in the ONS First Release "Quarterly National Accounts", and the data are held on the ONS database--all sources being available in the library.
Household saving (8) (at current prices) £ billion Household saving (8) as a percentage of gross domestic product Percentage
Database identifier: RPQL RPQL/YBHA
April 1997 to March 1998 50.3 6.2
April 1998 to March 1999 32.9 3.8
October 1998 to September 1999 34.8 4.0
Paper and Timber Products
Mr. Reed: To ask the Chancellor of the Exchequer (1) what steps he has taken to ensure that paper and timber products purchased by his Department come from a sustainable source; [110159]
- (2) if he will ensure that paper and timber products purchased by his Department are independently certified by the Forest Stewardship Council as coming from a sustainable source. [110160]
16 Feb 2000 : Column: 615W
Miss Melanie Johnson: I refer my hon. Friend to the answer given to him by the Under-Secretary of State for the Environment, Transport and the Regions, my hon. Friend the Member for Stretford and Urmston (Ms Hughes) on 14 February 2000, Official Report, columns 357-58W.
Gold Sales
Mr. Nicholas Winterton: To ask the Chancellor of the Exchequer what is the present sterling value of the euros which were purchased from the proceeds of the gold sold from the United Kingdom national reserves in 1999; what value that amount of gold would represent in sterling in today's market; and if he will provide similar statistics for the gold sold in 2000 to date. [110218]
Miss Melanie Johnson: The results of the gold auctions held on 7 July 1999, 21 September 1999, 29 November 1999 and 25 January 2000 are published in Bank of England Press Notices issued on those days. Copies of the Press Notices have been placed in the House of Commons Library. The proceeds from sales of gold have been invested in interest bearing foreign currency assets in broadly the same proportion as currently held in the net foreign currency reserves (40 per cent. dollars; 40 per cent. euro; and 20 per cent. yen).
Charities
Mr. St. Aubyn: To ask the Chancellor of the Exchequer what has been the change in registered charities' receipts since the ending of the dividend tax credit in each year since 1997-98; and what is the estimated average in the current financial year and each of the next three financial years. [110110]
Miss Melanie Johnson
[holding answer 14 February 2000]: The withdrawal of payable tax credits on charities' dividend income did not come into effect until April 1999.
16 Feb 2000 : Column: 616W
In recognition of their special position, charities will receive generous compensation through public expenditure in the form of a payment of a percentage of the dividends they receive. This will apply for five years from 6 April 1999 on a tapering basis.
The Charity Commission reports £19.75 billion of total annual income at the end of December 1998 in England and Wales (an average of £122 thousand, although nearly three-quarters of registered charities have an income of £10,000 or less).
The latest available figures from the Register show that at the end of September 1999 total annual income had risen to £22.4 billion (an average of £139 thousand). Forecasts of annual income are unavailable.
Mr. Cohen:
To ask the Chancellor of the Exchequer if he will make a statement on the arrangements made for debt rescheduling with Russia by the London Club of major creditor banks. [110421]
Mr. Timms:
The Russian government has reached a Framework agreement with the London Club of private sector creditors on restructuring its debt. The Government welcome this agreement as it does all efforts by debtors and creditors to resolve their differences amicably.
Mr. Baker:
To ask the Chancellor of the Exchequer what was the average cost of issuing a media release from his Department in 1999. [110273]
Mr. Timms:
For the year 1999 the Treasury was billed a total of £23,899.50 for the services of the Central Office of Information, who distribute press releases electronically and by fax. During 1999 the Treasury issued 283 press releases and the total average price was therefore £84.45.